Burger King NZ for sale?
posted on 25th May 2016
You can't buy an individual Burger King outlet in New Zealand, but you might be able to buy the whole operation - including 83 outlets around the country. An Australian report suggests that private equity firm The Blackstone Group may be preparing the business for sale. The Australian Financial Review says that the company is 'trading pretty well', after is reported a 7.5m loss in y/e 2014.
Industry analysts say Burger King is now trading pretty well. They are tipping the company, which could fetch between A$140 million (NZ$149 million) and A$160m, will soon release financial results that reflect an ongoing improvement in performance.
Should Blackstone give the green light to a formal sale process, likely trade buyers include 'Hungry' Jack Cowin, who owns the Hungry Jack's franchise in Australia and is a major shareholder in Domino's, as well as Stephen Copulos, a former KFC franchisee who sold 42 outlets to New Zealand outfit Restaurant Brands in March for A$82m.
The business may also be attractive to some regional private equity funds who are building pan-Asian portfolios of fast food outlets.
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